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RBC drops home mortgage rate
" t, [( g7 _$ T5 `6 DSep. 5, 2006. 12:45 PM
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.
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Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.3 |0 _* Q$ x! y. r4 Y6 ^
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At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.. }) |) _. c' I B. E) e
4 f8 j. q. V5 F$ S0 H* |- w( HThe cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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